Every economic inflection point reveals the difference between activity and infrastructure. In 1740, fire exposed the fragility of pooled risk without governance. Today, AI is exposing the fragility of intellectual property without transaction discipline. Enterprises are deploying generative systems at scale, but the governance architecture for what those systems consume and produce has not caught up. This article begins at that inflection point with a structural thesis: intellectual property is your currency, and until it is governed as such, AI will multiply uncertainty before it multiplies value. 

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